The monastery lies on a beautiful property with rolling hills, in an area of Florida known for its Spanish moss covered live-oak trees, horse farms, and horse-training facilities. The property was originally a sugar plantation.

The monks support themselves by making beeswax candles as well as maintaining a bookstore and giftshop. The monastery is dedicated to the Theotokos and is named after the famous historical church of the Panagia of Blachernae in Constantinople.